Augur is a blockchain startup. Augur is a prediction market platform. The platform rewards participants for correctly predicting the future. It could be any real-world event
Predict outcome of real-world events
You buys virtual shares in outcomes you believe in. If you buy shares in the correct outcomes you will win real money profits. The events can be sports events, the outcome of political elections, or prices in differents awards.
Earn real-money trading profits
The price of one share you trade in any event adds up to one dollar. If you buy a share at even odds it will cost 50 cents and you will win a total of one dollar. The price of the share varies over time. As an example, a share priced at 45 cents has a 45 % probability of happening. When more people buy shares in an outcome the price of that outcome will increase. It´s possible to buy low and selling high before the final result is revealed.
Augur for accurate forecasts on any topic
The idea behind Augur is that “The Wisdom of the Crowd” is superior to any of the individual wisdom in that group. It means that the average prediction made by a group should be better than an individual prediction.
Markets are a perfect way to aggregate the collective wisdom. When the individuals are buying and selling shares in the outcome of real-world events, based on their personal knowledge and opinion, the market prices reach an equilibrium that reflects the opinion of the entire group.
Augur means that prediction markets have proven to be more accurate at forecasting the future than individual experts, surveys or traditional opinion polling. They provide real-time predictive data and are traded using real money. Real money is important since market participants will reveal what they think will happen, rather than what they hope will happen.
Augur markets are available on these exchanges Poloniex, Kraken and Gatecoin.